The Hart Building

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Purchase Date: August 2006 Price: $2,025,000
Cash on Cash Return: 6.00% Project 5 Year IRR: 15.00%
Current Market Value: $2,200,000
Note: The Hart Building sits on the Northwest corner of Hewitt and Rucker, a prime corner in the Everett CBD. Hart has 9 apartment units over 10,000 SF of retail. The property has outstanding redevelopment potential and in the interim produces stable cash flow for the investment group. The site is anticipated to be 85 plus residential units over retail.